Able Laboratories, Inc. Holds Auction for Its Assets

Able Laboratories, Inc. (NASDAQ:ABRXQ) announced that it
held an auction of its assets on November 1, 2005 to solicit higher
and better bids than the bid reflected in the asset purchase agreement
entered into on October 19, 2005. At the conclusion of the auction,
the company entered into an asset purchase agreement dated November 1,
2005 with the winning bidder at the auction.
   The US Bankruptcy Court for the District of New Jersey, Trenton
Division has scheduled a final hearing to consider the approval of the
company's sale of its assets and the assumption and assignment of
contracts under sections 363 and 365 of the Bankruptcy Code for
November 7, 2005.

   Further information on the company may be found on the company's
web site, www.ablelabs.com. This release contains statements that are
forward-looking within the meaning of applicable federal securities
laws and are based upon the company's current expectations and
assumptions. You should not place undue reliance on those statements
because they speak only as of the date of this release.
Forward-looking statements include information concerning the
company's future operations, if any. These statements often include
words such as "expect," "plan," "believe," "anticipate," "intend,"
"estimate" or similar expressions. As you read and consider this
release, you should understand that these statements are not
guarantees of performance or results. They involve risks,
uncertainties and assumptions. Although the company believes that
these forward-looking statements are based on reasonable assumptions,
you should be aware that many factors could affect actual results,
which could differ materially from the forward-looking statements.

   These factors include, but are not limited to, uncertainty
regarding the company's ability to consummate a sale of its assets in
a timely manner and to develop and consummate one or more plans of
reorganization; uncertainty regarding court approval of the motions
made by the company from time to time; risks associated with third
parties seeking and obtaining court approval to terminate or shorten
the exclusivity period for the company to propose and confirm one or
more plans of reorganization or to appoint a chapter 11 trustee or
convert the bankruptcy case to a chapter 7 case; the company's ability
to continue as a going concern; the ultimate effect on the company of
the pending inspectional observations from the FDA to the company; and
the uncertainty relating to the ability of the company to recommence
manufacturing operations, if any, and various other factors beyond the
company's control. All future written and oral forward-looking
statements made by the company or persons acting on the company's
behalf are expressly qualified in their entirety by the cautionary
statements contained or referred to above. Except for the company's
ongoing obligations to disclose material information as required by
the federal securities laws, we do not have any obligation or
intention to release publicly any revisions to any forward-looking
statements to reflect events or circumstances in the future or to
reflect the occurrence of unanticipated events.